TaxTMI 
TaxTMI 
Solatium fund to Compensate Accident Victims in Hit and Run Cases.
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....olatium fund to Compensate Accident Victims in Hit and Run Cases. <br>News and Press Release<br>Dated:- 12-8-2011<br><BR>Press Information Bureau Government of India Ministry of Finance 12-August-2....
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....011 16:34 IST Solatium fund to Compensate Accident Victims in Hit and Run Cases In 'Hit & Run' cases, accident victims are eligible for compensation through a Special Fund constituted in terms of Se....
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....ction 163 of the Motor Vehicles Act, 1988 called 'Solatium Fund'. The amount of Compensation is `25,000/- in the event of death and `12,500/- for grievous injuries. A portion of the Gross Written Prem....
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....ium is contributed towards this Fund every year by both Public and Private Insurers. However, in case the vehicle is without insurance, the victim/dependents has the right to claim compensation from t....
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....he owner/driver under Motor Vehicles Act, 1988. The Sundar Committee appointed by Ministry of Road Transport & Highways (MoRTH) has recommended that the Certificate of Insurance should be co-terminus....
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.... with the validity of Certificate of Registration of the motor vehicle. The MoRTH has informed that there is no proposal to levy one-time insurance premium from new vehicles to compensate road accide....
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....nt victims. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to an Unstarred Question in Lok Sabha today. DSM/SS/PM<BR> News - Press release -....
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.... PIB....